The Five Chase Cards You Should Apply For: Combo #2

5/24 is a buzzword in the miles and points sphere. It refers to the fact that Chase will cut you off from eligibility for their travel rewards credit cards once you’ve opened five credit cards from any bank whatsoever in the last 24 months (not counting most business cards). It was never published by Chase anywhere, but rather pieced together and clarified over time after many people like us shared their experiences online.

As Chase issues travel rewards cards with valuable sign up bonuses and earning structures, there is an opportunity cost to signing up for credit cards from other banks first. Pick the Chase cards you want and then move on to other banks. Chase issues a variety of credit cards though, to suit a variety of consumers and travelers. How do you know which ones you should choose?

I have broken down the answer to this question into four different five-card combos.

Today I’ll tell you a little about each card in Combo #2 and what you’d earn total from those cards. As Combo #1 and #2’s first three cards are the same, I won’t regurgitate the info on those cards here. If you’re just picking up on this series and are interested in learning more about the Sapphire Reserve, Freedom, and Ink Business Preferred Cards (as well as the kind of points they earn), read The Five Chase Cards You Should Apply For: Combo #1.

Much like the Freedomcard, the Ink Business Cash is marketed as a cash back card. But the Ultimate Reward points it earns don’t have to be redeemed for 1 cent each. If you have a Sapphire Preferred, Sapphire Reserve, or Ink Business Preferred, you can transfer your Ink Business Cash Ultimate Rewards to one of those accounts to turn them into the kind of Ultimate Rewards that are transferrable to nine airline or three hotel loyalty programs for outsized value on international/premium cabin award flights and expensive hotel rooms. Alternatively, moving them to your Sapphire Reserve card also means you can redeem the points for 1.5 cents each on cash flights through the Chase travel portal, which is often the better deal (compared to turning them into airline miles) for domestic flights.

The Ink Business Cash comes with a sign-up bonus of $500 cash back for spending $3,000 within three months of opening your new account. But what it actually earns is 50,000 Ultimate Rewards, redeemable for 1 cent each, but if you move those points to your Sapphire Reserve account that makes the bonus worth at least $750 and up to an estimated $1,000. For a no annual fee card (ever), that is an extremely lucrative bonus.

You’ll earn the following category bonuses as well:

5 Ultimate Rewards per dollar spent at office supply stores, and with internet, cable and phone services (bonus is capped after $25k in spending per cardmember year)

2 Ultimate Rewards per dollar spent at restaurants and gas stations (bonus is capped after $25k in spending per cardmember year

Just like the Freedom and Ink Business Cash (and Freedom Unlimited, for that matter), the Ink Business Unlimited is another one of those Chase cards that–you guessed it–is advertised as a cash back card. But you know better. Move those points over to an Ultimate Rewards earning card with an annual fee and you’ve got yourself much more valuable points to either redeem for 1.25 to 1.5 cents a piece through the travel portal or to turn into airline miles or hotel points.

The Ink Business Unlimited’s sign-up bonus matches the Ink Business Cash card’s: $500 cash back for spending $3,000 in three months (or 50k Ultimate Rewards transferrable to airline partners if you have a Sapphire Preferred, Sapphire Reserve, or Ink Business Preferred to move the 1 cent a piece Ultimate Rewards to. It also has no annual fee like the Ink Business Cash.

It’s selling point, aside from it’s large sign-up bonus, is the fact that it earns 1.5 Ultimate Rewards on all purchases. That’s a nice card to have in your wallet for otherwise non-bonused spending. Don’t use it abroad though, as it also collects foreign transaction fees.

What You’ll Get Total From Combo #2

You’d earn 264,500 Ultimate Rewards from spending $15,500 to meet the minimum spending requirements for the sign up bonuses on the Sapphire Reserve, Freedom, Ink Business Preferred, Ink Business Cash, and Ink Business Unlimited.

Your potential for return on spending would span the following category bonuses:

Timing of Applications

The general consensus is that Chase won’t, automatically at least, approve more than two applications in a 30 day period. It is possible to get approved for more than that, but you’ll almost certainly have to put in a reconsideration phone call and Chase representatives are known for being rather difficult in that aspect.

It’s wise to apply for two at the same time (on the same day), as the two hard credit inquiries should combine into one as long as both are personal cards or both are business cards. I’d recommend putting some time–at least three months if not four–between these double application days though, as Chase will shut down accounts for too many new accounts too quickly as it makes you look risky to lend more credit to.

Bottom Line

If you plan on pursuing miles and points as a hobby, it’s a no-brainer that your first five rewards cards should be issued by Chase. If you’re not interested in earning a Companion Pass and/or Rapid Rewards for Southwest flights, then the first five should be the Sapphire Reserve, the Freedom, the Ink Business Preferred, the Ink Business Cash, and the Ink Business Unlimited card.

I’ll discuss Combo #3 and the bonus combo in upcoming posts.

The above recommendations will apply to the majority of people, but not everyone. If you have a very specific destination in mind and you want to make sure you earn the right type of rewards for you trip, use our Free Credit Card Consultation Service. I’ll make sure you’re set up with the right cards.

Editorial Disclaimer: The editorial content is not provided or commissioned by the credit card issuers. Opinions expressed here are author’s alone, not those of the credit card issuers, and have not been reviewed, approved or otherwise endorsed by the credit card issuers.

The comments section below is not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved, or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all questions are answered.

Sarah Page Maxwell became a miles nerd after moving her base to Buenos Aires and beginning a transient lifestyle that would be otherwise too expensive without miles and points. In addition to travel, her other passions include hot sauce, yoga, and her boston terrier Omar.

5 COMMENTS

I think I’ll open an Ink Business cash in time to pay my annual timeshare maintenance fees. I’ll get a nice haul of points with no annual fee. I’ve already got the Reserve and don’t want to jump through all the Freedom hoops. I can put my cell and cable bills on the Business card as well.

I’m not quite ready to go for the Southwest companion pass yet. You’re doing a great job with all these articles.

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Content is not provided or commissioned by the credit card issuers. Opinions expressed here are author’s alone, not those of the credit card issuers, and have not been reviewed, approved or otherwise endorsed by the credit card issuers. These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered. For more information or to see the MileValue Privacy Policy, click here.

Sarah Page Maxwell is a miles aficionado and avid traveler, born in Virginia, raised in North Carolina, and currently based in Buenos Aires, Argentina. She has earned and redeemed millions of miles for herself and others. Traveling for free, the 29-year-old has been to 20+ countries, making sure to catch as many sunsets in each that she can.

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Many of the credit card offers that appear on this site are from credit card companies from which MileValue.com receives compensation if you are approved. Compensation impacts placement of cards on the credit card page and banner placement, but does not on the articles posted on MileValue.com. This site does not include all credit card offers available in the marketplace.

Many of the credit card offers that appear on this site are from credit card companies from which MileValue.com receives compensation if you are approved. Compensation impacts placement of cards on the credit card page and banner placement, but does not on the articles posted on MileValue.com. This site does not include all credit card offers available in the marketplace.